Arbitrage betting is based on combining those prices rather than accepting both sides from the same bookmaker. The percentage is relatively small, but arbitrage betting is not based on finding one enormous return. This is why platforms such as WagerWise’s arbitrage betting software continuously compare bookmaker prices and calculate how much must be placed on each outcome. Arbitrage Betting Is Not Completely Risk-FreeArbitrage betting is often described as risk-free because the calculation covers every possible outcome. Arbitrage Betting Versus Value BettingArbitrage betting and positive expected value betting both rely on bookmaker pricing, but they are not the same strategy.